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Central banks have been considering the introduction of central bank digital currencies (CBDCs). The theoretical … financial stability. To provide empirical evidence on this debate, we study the effects of the arrival of a new central …
Persistent link: https://www.econbiz.de/10014289254
Incorporating climate change considerations in central bank decisions has been fraught with legal and technical … controversies. Legal, because interpretations of central bank mandates in relation to sustainability has been widely cited as …-related risk analysis spread among central banks by text mining - counting relevant bigrams - in 941 European financial stability …
Persistent link: https://www.econbiz.de/10014308037
lending and the type of assets purchased by the central bank, the impact on similarly QE-exposed banks is also crucially …
Persistent link: https://www.econbiz.de/10014393221
Faced with COVID-19 crisis, central banks have once again become one of the key players in the economies. The aim of … this article is to analyse the actions of Central and Eastern European central banks within all their roles (monetary … analysis shows that they were active in various fields, not only those that were traditionally always assigned to central banks …
Persistent link: https://www.econbiz.de/10013407480
, including cryptocurrencies. Central banks, therefore, faced the challenge of adjusting their issuing activities to the current … introduction of central bank digital currency with an indication of potential consequences for the banking sector. The thesis of … this paper is the following statement: The emergence of digital money of the central bank may significantly change the …
Persistent link: https://www.econbiz.de/10013407508
This paper shows the existence of a central bank trilemma. When a central bank is involved in financial intermediation …, either directly through a central bank digital currency (CBDC) or indirectly through other policy instruments, it can only … price stability. In particular, a commitment to price stability can cause a run on the central bank. Implementation of the …
Persistent link: https://www.econbiz.de/10014484337
Using a panel data approach with bank-fixed effects, we study the impact of Targeted Longer-Term Refinancing Operations (TLTRO) on banks’ risk, given by their distance to default (DtD). The study aims to determine if the liquidity from TLTROs influences banks’ risk-taking behaviour. For the...
Persistent link: https://www.econbiz.de/10014533785
We study the transmission of monetary policy through bank securities portfolios using granular supervisory data on U.S. bank securities, hedging positions, and corporate credit. Banks that experienced larger losses on their securities during the 2022-2023 monetary tightening cycle extended less...
Persistent link: https://www.econbiz.de/10014544727